Central Bank of Kansas City continues tradition of excellence


Northeast News
October 3, 2012 


Central Bank of Kansas City, 2301 Independence Blvd., has been serving the area for 61 years and counting.

What sets Central Bank apart from others is its customer service, said Sarah Cousineau, Central Bank marketing and community outreach director.

“I think banking local is a popular idea and I think it helps not to be a large banking institution,” she said.

Central Bank employees know their customers by name and a number of employees checked on elderly customers over the summer to make sure they were staying cool, she said.

“You’re not going to find that at a larger bank,” Cousineau said.

As a Community Development Financial Institution (CDFI), Central Bank offers a majority of its services to low income and underserved communities. Only 90 banks in the U.S. hold that title, said bank president Bill Dana. Since 1998, Central Bank has held the CDFI designation, resulting in access to a number of programs, like the New Markets Tax Credit program that encourages businesses to move to distressed communities.

To further serve the community, Central Bank has partnered with Fair Community Credit to offer small dollar loans.

“Most banks don’t do small loans at all any more,” Cousineau said. “We think it’s a good way to help the public not get into the payday loan trap.”

The interest rate for payday loans averages more than 400 percent, “which just makes it impossible for somebody to get out from under all that debt,” she said.

Small dollar loans offer much lower interest rates and also give customers the opportunity to build and improve credit. Since January of 2012, Central Bank has approved 50 loans, averaging $1,000 each. The average loan duration is 24 months.

To find out if you qualify for a small dollar loan, contact Program Facilitator Marisa Martinez at fccfaircommunitycredit@gmail.com.

For customers wanting to save extra money for Christmas gifts, Central Bank offers Christmas Club, a separate savings account solely for Christmas shopping.

“It’s an old fashioned idea, but it’s a great way to save for Christmas all year long, so you don’t have to incur debt for Christmas,” she said.

Central Bank values the importance of financial education and offers education throughout the year, whether it’s through the bank’s monthly e-newsletter through presentations at schools or through bimonthly classes at the main branch, among other outreach activities.

For approximately 10 years, Central Bank has offered online banking and just this year, added e-statements.

“It’s a good thing for the environment and keeps their (personal banking) information from getting stolen out of a mailbox,” Cousineau said of
e-statements.

E-statements are free and give customers easy access to needed statements, especially during the tax season, she said.

“It’s convenient, safe and secure,” she said. “It’s less paper clutter, less chance of ID theft and it’s green.”

Comments are closed.

  • Independence Avenue CID

    August 16th, 2017
    by

    Independence Avenue CID

    August 16th, 2017
    by

    Northeast Chamber has plan for local business

    August 2nd, 2017
    by

    By Paul Thompson Northeast News The Northeast Chamber of Commerce is already making good use of its new headquarters on […]


    KCMO law firm looks back on ties to the Northeast

    July 5th, 2017
    by

    Northeast News July 5, 2017 KANSAS CITY, Missouri – In nearly 20 years of business, a handful of cases stand […]


    Northeast funeral homes celebrates 87 years serving community

    June 7th, 2017
    by

    Northeast News June 7, 2017 KANSAS CITY, Missouri — Eighty seven years in business is an impressive feat. However, 87 […]


  • New cameras on Independence Ave. already yielding results

    June 2nd, 2017
    by

    By Abby Cambiano Northeast News June 2, 2017 KANSAS CITY, Missouri – New surveillance cameras and license plate readers along […]


    The North End invests in itself with recent renovation

    May 3rd, 2017
    by

    By Michael Bushnell Northeast News May 3, 2017 KANSAS CITY, Missouri – One of the first things Pete Mesh did […]


    Celebrating 50 years in the printing industry

    April 5th, 2017
    by

    By Paul Thompson Northeast News April 5, 2017 KANSAS CITY, Missouri – Terry Cunningham was fresh out of high school […]


    Retirement party for Dr. Joslyn

    March 22nd, 2017
    by

    Photos by David Remley March 22, 2017 Retirement. After more than two decades serving the Northeast community, Dr. Elaine Joslyn […]


    Dr. Elaine Joslyn announces her retirement

    March 1st, 2017
    by

    By Paul Thompson Northeast News March 1, 2017 KANSAS CITY, Missouri – Dr. Elaine Joslyn’s decision to retire – like […]


  • What’s Happening

    Northeast Newscast Episode 22 – a history lesson through audits w/ KCMO City Auditor Doug Jones

    By Paul Thompson Northeast News This week on the Northeast Newscast, managing editor Paul Thompson runs through the history of […]

    City Council pushes divisive airport decision to August 24

    By Paul Thompson Northeast News Three separate airport ordinances were held for a week by the Kansas City, Missouri City […]

    Phantastics perform at Kansas City Museum; prelude to eclipse

    Northeast News Hundreds of local residents came out to the Kansas City Museum (3218 Gladstone) on Friday, August 11, for […]

  • Local Weather